SFC fully implements Manager-In-Charge regime. The SFC announced the full implementation of the Manager-In-Charge (MIC) regime following a six-month transition period, which ended on October 16, 2017. During the transition period, about 10,000 individuals were appointed by licensed corporations as MICs responsible for managing important functions. (10/17/2017)
CP on Review of Anti-Commingling Framework for Banks. The MAS released a Consultation Paper entitled Review of Anti-Commingling Framework for Banks, to simplify the regulatory requirements and expand the scope for banks seeking to conduct or invest in permissible non-financial businesses that are related or complementary to their core financial businesses. Submissions on this CP are due by November 15, 2017.
CP I on Draft Notices and Guidelines Pursuant to the SFA. The MAS released a Consultation Paper entitled Consultation Paper I on Draft Notices and Guidelines Pursuant to the Securities and Futures Act. Submissions on this CP are due by November 3, 2017.
Consumer Price Developments in September 2017. The MAS released its Consumer Price Developments in September 2017 report. (10/23/2017)
MAS simplifies rules for managers of venture capital funds to facilitate start-ups’ access to capital. The MAS announced that a simplified regulatory regime for managers of venture capital funds will come into immediate effect, following public consultation on the proposal earlier this year. (10/20/2017)
MAS releases its MPS. The MAS released its Monetary Policy Statement. (10/13/2017)
ASIC releases update to evidence metrics for performance reporting. ASIC announced that it has released updated evidence metrics to report against six common key performance indicators in the Australian Government’s Regulator Performance Framework. (10/20/2017)
The FMA and ASIC confirm trans-Tasman collaborative approach to fintech. The Financial Markets Authority and ASIC re-affirmed their commitment to collaboration and cooperation on the expanding opportunities in fintech and innovation. (10/19/2017)
ASIC update on interest-only home loans. ASIC provided an update on its targeted review of interest only home loans. (10/11/2017)